Underworld Resources Inc.

Underworld Resources Inc.

June 23, 2009 14:41 ET

Underworld Intersects 3.2 g/t Au over 44.5 meters at White Gold Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2009) - Underworld Resources Inc. (TSX VENTURE:UW) is pleased to announce that results have been received from nine additional holes drilled during the Phase 1 campaign at the White Gold Property. At Golden Saddle, extensions to gold mineralization down-dip and along strike to the northeast have been confirmed. Two additional holes at the Arc Zone demonstrate continuity of mineralization discovered in 2008. Drill hole location plans and cross sections are available at www.underworldresources.com. The table below provides further details.

Golden Saddle

Highlight of the Golden Saddle results is WD09-32 which returned 3.16 g/t Au over 44.5 meters from 179.5 meters and extends the Golden Saddle 'upper zone' further down dip. WD09-32 is located 60 meters down dip from WD08-21 which returned 3.2 g/t Au over 50.7 meters.

WD09-34 which returned 1.4 g/t Au over 29.50 meters demonstrates extension of the mineralized zone further to the north east. WD09-38 intersected 0.95 g/t Au over 153.0 meters, including higher grade upper and lower intervals, including over 3.1 g/t Au over 17.2 meters and 4.1 g/t Au over 16.0 meters. WD09-38 intersected the Golden Saddle Zone 60 meters up-dip from WD09-34.

WD09-30 was drilled up-dip from the same collar location as WD09-31, which intersected 3.4 g/t Au over 104.0 meters. WD09-30 returned 0.6 g/t Au over 70.9 meters, including 2.1 g/t Au over 7.0 meters but the zone was truncated by an altered and sheared ultramafic unit or dyke, which is interpreted to be a poor host rock to the gold mineralization within the Golden Saddle Zone.

Two drills are currently working on the 6,000 meter 2009 Phase 2 program. Assays are pending for four additional holes at Golden Saddle including WD09-44, 45 and 47 which tested for further extensions to the northeast spanning an additional 120 meters of strike length.

Arc Zone

At the Arc Zone, located two kilometers southeast of Golden Saddle assays for two of five holes drilled in the 2009 Phase 1 drill campaign have been received. WD09-37 and 39 are located between holes WD08-14 and 17 drilled in 2008. WD09-37 returned 1.32 g/t Au over 31.5 meters from 123.5 meters while WD09-39 returned 1.51 g/t Au over 14.5 meters from 78 meters. These holes complement WD08-14 and WD08-17 and confirm continuity of mineralization over a strike distance of 600 meters. Two of the three additional holes at Arc with assays pending were tested extensions to the zone further south of hole WD08-14, while hole WD09-42 was located north of WD09-37 and 39 to test for extension to the north and a possible link between Arc Zone and Golden Saddle.

Assay Results

From To Length Au
Hole-ID (m) (m) (m) (g/t) Comments


WD09-30 101.04 170.50 69.46 0.58 Golden Saddle zone. Link
including 101.04 108.00 6.96 2.14 between holes WD08-20 &
139.47 170.50 31.03 0.79 WD09-31, interval truncated
including 138.50 143.50 4.03 2.89 by ultramafic dyke

WD09-32 73.00 77.00 4.00 2.93 Extends Golden Saddle
96.00 100.50 4.50 7.79 mineralization down dip
179.50 224.00 44.50 3.16 from WD08-21 (3.2 g/t
including 202.00 223.00 21.00 5.30 over 50.7 m), zone still
open to north

WD09-33 192.00 226.00 34.00 0.81 Vertical hole from collar
including 192.00 196.00 4.00 3.22 of 32, lower grade, shows
zone still open to north

WD09-34 136.00 165.50 29.50 1.44 Extends Golden Saddle zone
including 136.00 148.00 12.00 2.70 further to north east

WD09-35 147.00 148.00 1.00 1.64 Poorly mineralized, not in
and 214.00 214.50 0.50 6.40 unit which hosts most of
Saddle mineralization,
perhaps folded or faulted

WD09-36 109.50 115.82 6.32 0.87 Mineralized zone within
amphibolite; poor host

WD09-38 54.50 207.50 153.00 0.95 Higher grade upper and
including 64.80 82.00 17.20 3.10 lower zones; extends
including 191.50 207.50 16.00 4.08 Golden Saddle further


WD09-37 120.14 156.50 36.36 1.22 Arc Zone, demonstrates
including 139.50 147.72 8.22 2.30 continuity of
mineralization over 600m
between WD08-14 & 17,
shallow north east dip

WD09-39 78.00 92.50 14.50 1.51
including 78.00 88.00 10.00 1.94

(i) True Widths are estimated to be between 70% and 100% of drilled interval

The Upper Zone mineralization at Golden Saddle is preferentially hosted within a deformed intrusive unit (augen gneiss), and to a lesser degree within schists and amphibolites. Gold mineralization is associated with quartz breccias, veins and stockworks, as well as silica, sericite, K-feldspar, and ankerite alteration. Sulphide mineralization is dominated by disseminated and stockwork pyrite, with local visible gold, chalcopyrite and molybdenite.

The 2009 Phase 2 drill program is continuing with two drills. Fourteen holes have been completed at Golden Saddle in 2009 with holes 47 and 48 in progress. The current focus of drilling is to extend the Golden Saddle mineralization. Additional step-out drill holes are being planned in all directions.

Upon receipt of assays from the remaining three Arc Zone holes drilled in the 2009 Phase 1 program, additional infill and step-out drill holes will be planned.

Exploration work including mechanical trenching is continuing on several other targets at the White Gold Property prior to drill testing during the summer of 2009. Underworld intends to complete a NI43-101 Resource Estimate on the Arc and Golden Saddle Zones in Q3/09.

Quality Assurance

Underworld has implemented a rigorous QA/QC program at the White Gold Property using best industry practice. Elements of the program include chain of custody of samples, standard and blank samples are submitted, with drill core sawn in half and shipped in sealed bags to ALS Chemex Laboratories in Vancouver. The ongoing 2009 Exploration Program is directed by Adrian Fleming, M.A.I.G, RPGeo, M.Aus.I.M.M., President of Underworld Resources and a Qualified Person as defined by NI43-101. Mr. Fleming prepared, and approves of the content of this release.

Underworld Resources is a well-structured junior exploration company targeting precious metals in the Americas.


Adrian Fleming, President

Forward Looking Statement

Some of the statements contained in this press release are forward-looking statements. Forward-looking statements are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control, including, but not exclusively, statements regarding potential mineralization, exploration results, completion of work program and studies, and future plans and objectives of the Company. Resource exploration, development and operations are highly speculative, characterized by a number of significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate, including, among other things, unprofitable efforts resulting not only from the failure to discover mineral resources but from finding mineral deposits which, though present, are insufficient in quantity and quality to return a profit from production.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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